X5 Retail Group’s chief financial officer Evgeny Kornilov will leave the Russian retailer in October.

He has accepted a senior management position at another company, X5 said today (9 July).

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The company and its supervisory board have started a search process to recruit a new CFO.

X5 CEO Lev Khasis said: “[Kornilov] was instrumental to X5’s successful response to the financial crisis and economic downturn, and played a leading role in controlling costs, increasing capex discipline, improving working capital and strengthening our liquidity and balance sheet.”

Kornilov was appointed as chief financial officer in January 2008 and joined the company as CFO of Perekrestok in 2006. He has also held roles within SUN Interbrew in Russia and PricewaterhouseCoopers.

 

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